Slow Research Academy › Uber › Unit 7 “Management”, lesson 2
Ten years of acquisitions and investments: some have results, some are too early to judge
This unit asks: What key decisions has this team made, and where has the money gone?
Share-swap exits, direct investments and acquisitions reflect past choices and outcomes. Insurance collateral and tax assets face different constraints; receiving shares in an exit does not remove that transaction from capital-allocation evaluation.
In 2021, Uber paid about $1.1 billion in stock for Drizly, a U.S. alcohol delivery company.
In 2024 it shut Drizly down.
During the same period Uber made a number of other acquisitions, share swaps and equity investments. Some have results; others will take a few more years to judge.
Exits from China, Southeast Asia and Russia: some of the stakes received are still on the books
In China, Southeast Asia and Russia, Uber did not keep operating on its own. It merged the local business into a competitor and received a stake in that competitor.
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